A new apartment high-rise and office tower are being built next door as part of the Epic development.

"We've been searching for the right opportunity in Dallas," Mike DeFrino, chief executive at Kimpton Hotels & Restaurants, said in a statement. "Deep Ellum's vibrant culture, renowned art galleries and incredible concert venues are a perfect match for our unique take on boutique hospitality."

The hotel is being developed by local firms Vine Street Ventures and Westdale Real Estate Investment and Management.

The Dallas office of global architecture firm Perkins+Will is designing the project.

The 8-acre Epic project includes a 290,000-square-foot office tower being constructed by Dallas developer KDC, and a 310-unit high-rise apartment project called StreetLights Residential building.